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Financial Power of Attorney: Specific Powers Demystified

Financial Power of Attorney: Specific Powers Demystified

A Colorado Financial Power of Attorney is a legal document. It grants authority to an agent or attorney-in-fact to handle your financial affairs in situations where you are unable to do so yourself. This document grants both general powers and specific powers to the agent. It allows the agent to act on your behalf in a wide range of financial situations. The agent’s general powers encompass broad areas such as real property, stocks, and bonds. On the other hand, the…

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Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

When it comes to estate planning, many people believe having a will is only necessary if they possess significant assets or property. The truth is however, creating a will holds importance regardless of the size of your estate. Even if you have no substantial assets, or have designated beneficiaries for your existing assets, having a will in place offers several crucial benefits. Below are reasons why everyone needs a will. Expressing Your Wishes A will serves as a legal document…

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Passing the Torch: A Guide to Choosing an Executor in Colorado

Passing the Torch: A Guide to Choosing an Executor in Colorado

Choosing An Executor: Responsibilities and Process Estate planning is an important process that involves making decisions about your assets, your family, and your legacy. One of the most critical decisions you’ll make in estate planning is choosing an executor. An executor is the person responsible for managing your estate after you pass away. Who Should You Choose as Your Executor? Selecting someone to be your executor is a decision that should be made with great care. Here are some factors…

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Colorado FAMLI Program

Colorado FAMLI Program

FAMLI Program Rollout Attention small business owners in Colorado: the new Family and Medical Leave Insurance (FAMLI) program began on January 1, 2023. First payments are due by April 30th, 2023. FAMLI is a state-run program providing wage replacement benefits to employees who need to take time off work to care for their family. Benefits can be used for taking care of a new child, or looking after a family member who has a serious illness. Colorado FAMLI Program: How…

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Why the Probate Process is Necessary

Why the Probate Process is Necessary

Losing a loved one is never easy, and dealing with their estate can be overwhelming. If the deceased person however, owned real property or had assets valued at over $74,000 (as of 2023), opening up probate may be necessary. While probate can seem daunting, there are several reasons why it’s important to go through the process. Below are six compelling reasons why you should consider opening probate on behalf of a loved one who has passed away with significant assets….

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